SSG.com announced on the 9th that it has signed a memorandum of understanding (MOU) with KB Kookmin Bank on the 5th to provide the first financial package service combining shopping and finance, termed "SSG KB Bank."
"SSG KB Bank" is a "bank in platform" that offers KB Kookmin Bank's financial services within SSG.com. The goal is to launch by the end of the year.
The two companies plan to introduce parking accounts and savings products for SSG.com customers. Customers who open a parking account can earn a portion of their payment as SSG Money when making purchases on SSG.com, and the accumulated SSG Money will be automatically transferred to the parking account, allowing them to benefit from preferential interest rates. They will also offer themed savings products to help customers save up for desired purchases.
They plan to provide financial services linked to the purchased product categories. For customers purchasing travel packages, benefits such as preferential currency exchange rates and free travel insurance will be offered, while customers purchasing self-sufficient phones will receive additional discounts on KB Kookmin Bank's mobile communication service, "Live Mobile."
A financial package for sellers will also be launched. This includes a parking account that allows for the deposit of settlement funds with preferential interest rates, savings products for available capital, factoring services that enable advance payments on sales proceeds, and a one-stop non-face-to-face loan service without visiting a bank.
Lee Hwan-joo, chairman of KB Kookmin Bank, said, "I promise to introduce the 'bank in platform' that provides customer and business-specific dedicated products and services on SSG.com as the first model in the country, and I hope that this agreement will allow both companies to grow together as partners."
Choi Hoon-hak, CEO of SSG.com, noted, "The service we will jointly present under the project name 'SSG KB Bank' will provide an experience that seamlessly connects shopping to financial benefits," adding, "Customers will enjoy a differentiated shopping experience and substantial financial benefits."